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| Chinese 304 series stainless steel price soars after holiday - 09 Mar, 2010 | ||||||||||||||||||||||||||||||||
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(Free news on steel, iron ore, coal, nickel, copper, metals and mining) MetalBiz reported that Chinese 304 stainless steel price kept relatively stable in most time of February 2010, but the price soared by CNY 800 to CNY 1,100 tonne after Chinese Spring Festival, as the nickel price increased to USD 20,000 per tonne. In the week of February 22nd 2010, price of 3mm 304 HRC was CNY 20,400 to CNY 20,800 per tonne in Foshan, up by CNY 800 to CNY 900 per tonne from the end of January 2010. Price of 2mm 304/2B CRC hiked by CNY 800 to CNY 1,100 per tonne to CNY 22,500 to CNY 23,000 per tonne. Price of 2mm 430/2B CRC and 1-2mm 201/2B CRC hiked by CNY 100 per tonne respectively to CNY 11,900 to CNY 12,200 per tonne and CNY 11,900 to CNY 12,100 per tonne correspondingly. Transactions of 2mm 202/2B CRC are scarce, but market participants said the price inclined by CNY 200 per tonne to CNY 17,800 to CNY 18,000 per tonne. The aforesaid prices include 17% VAT. Meanwhile, traders said that the deals are few last week as business just recovered after Chinese Spring Festival and buyers still have sufficient inventories overall, therefore, they are not anxious to purchase. A merchant in south of China said the present demand and supply are better than last year, but the market still needs time to digest the inventory. Industry observers revealed whether the price raises to continue should be determined 1-2 weeks later. China stainless steel price details
CNY per tonne
CNY per tonne Source: MetalBiz | ||||||||||||||||||||||||||||||||
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